24 April 2013
Mr harsh mehta, The Annual report is just a summary of the monthly/quarterly/half yearly returns of dealer in a year. A VAT audit report is done after auditing the books of a/c by a vat and accounts expert.It should be a common report acceptable to both IT and VAT departments.VAT/IT audit report is certified by an authorised expert and therefore it has an overriding effect...mjk
CAclubindia
